Midland States Bancorp, Inc. (MSBI) To Go Ex-Dividend on August 16th

Midland States Bancorp, Inc. (NASDAQ:MSBI) announced a quarterly dividend on Tuesday, August 6th, Zacks reports. Shareholders of record on Friday, August 16th will be given a dividend of 0.31 per share by the financial services provider on Friday, August 23rd. This represents a $1.24 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date of this dividend is Friday, August 16th.

Midland States Bancorp has increased its dividend payment by an average of 3.9% annually over the last three years and has increased its dividend every year for the last 8 years. Midland States Bancorp has a payout ratio of 46.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Midland States Bancorp to earn $2.78 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 44.6%.

Midland States Bancorp Stock Up 1.0 %

Shares of MSBI traded up $0.21 during trading hours on Thursday, reaching $20.93. The company’s stock had a trading volume of 21,922 shares, compared to its average volume of 78,431. The firm has a market cap of $449.62 million, a price-to-earnings ratio of 7.05 and a beta of 0.76. Midland States Bancorp has a 1-year low of $19.85 and a 1-year high of $28.47. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $22.82 and a two-hundred day moving average of $23.74.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.52). The business had revenue of $120.95 million during the quarter, compared to analyst estimates of $74.90 million. Midland States Bancorp had a net margin of 12.10% and a return on equity of 9.25%. During the same quarter in the prior year, the company earned $0.87 EPS. As a group, research analysts predict that Midland States Bancorp will post 2.34 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Piper Sandler upped their target price on Midland States Bancorp from $24.50 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Stephens dropped their price objective on Midland States Bancorp from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods dropped their price objective on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, July 29th.

Insider Buying and Selling

In other news, Director Jeffrey M. Mcdonnell acquired 2,290 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were purchased at an average price of $21.80 per share, for a total transaction of $49,922.00. Following the completion of the acquisition, the director now owns 24,245 shares of the company’s stock, valued at approximately $528,541. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Midland States Bancorp news, CAO Donald J. Spring sold 1,197 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $22.00, for a total transaction of $26,334.00. Following the transaction, the chief accounting officer now owns 12,015 shares in the company, valued at $264,330. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey M. Mcdonnell purchased 2,290 shares of the stock in a transaction on Thursday, June 13th. The shares were bought at an average price of $21.80 per share, for a total transaction of $49,922.00. Following the acquisition, the director now owns 24,245 shares of the company’s stock, valued at $528,541. The disclosure for this purchase can be found here. 5.60% of the stock is currently owned by corporate insiders.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides various banking products and services to individuals, businesses, municipalities, and other entities. It operates through Banking, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.